The most expensive single NFT ever sold went for $6.6 million in February.
A crypto artist known as neitherconfirm recently listed 26 non-fungible tokens, or NFTs, for sale on OpenSea’s digital marketplace. Things took an unexpected turn earlier today, however, after the artist changed the images associated with each token from computer generated portraits into photos of literal carpets.The pieces, which originally featured people and animal faces in a seemingly stained glass style, are now nothing more than an expensive metaphor for why you can’t trust the store-of-value proposition of any asset that maintains an aspect of centralized control.I just pulled the rug at my NFT collection on @opensea . Nobody got hurt.It is pretty easy to change the jpg, even if it does not belong to me or it is on auction. I am the artist, my decision, right?A thread from somebody making his living with art irl about the value of NFTs. pic.twitter.com/LNAZqPpDMZ— neitherconfirm (@neitherconfirm) March 9, 2021
“All discussions about the value of NFTs are meaningless as long as the token is not inseparable from the artwork itself,” said neitherconfirm. “What is the meaning of creating an unforgeable token on a highly secured network if somebody can alter, relink or destroy your possession? As long as the value of your artwork is reliable on a central service you do not own anything.”The current price disparity between the artist’s seemingly similar rugs seems to lend some validity to their claims. At time of publication, …
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